3 Things to become a better trader

3 Things to become a better trader

Who says equity trading is hell of a task? All you need to do is to stay focused and follow a set of tried and tested rules to your path of ultimate triumph. Read on and let us guide you on the heuristics to WOW trading…

Weigh the pros and cons – How much of what will my portfolio include? What are the costs and taxes involved in transacting? When should I call or put? Consider passive over active indexing and other available stuff to choose from. Explore and question as much as you can. There is no bar to opportunities and possibilities. After all, this is about your money!

A trading plan – that is where all the weighing will get you to. An effective trader will always have rules. This makes money management easy peasy! With a plan, you can even do back testing on historical stock trade data before actually implementing it on real funds in the actual market. That is how you will make sound business decisions.

Put your emotions aside – Do not conform to emotional biases while trading stocks. Remember that a trader must make rational decisions to be able to earn the best possible returns. Do not interpret information based on personal biases. The reality maybe different from a traders beliefs. So set ceiling and floors to help you transact. Relay on data and protect your capital. Be tactical and don’t get too excited when you shouldn’t!

That leads us to Research – Studying the market does have its benefits. Numerous journals and websites provide the day to day information and analysis that investors need to be able to understand market trends, economic behaviors and business acumen. Why not use them??

And finally, get hold of a credible subscriber and mentor – Rely on Stockspotify.com where you have exclusive access to options well as tips and alerts to keep you ahead of the rest. Trust Stockspotify.comwith your trade and investment and you will never look back!